Lending Club Issues $100 Million in Consumer Loans, Captures 79% ofthe US Market in March 2010
Yesterday, Lending Club broke the $100mm mark in issued loans with a record high $8,664,750 in consumer loans issued in March alone. This number represents over 79% of the $10,926,846 in peer-to-peer loans issued in the US in March.
Creditworthy borrowers are increasingly turning to Lending Club for better rates, as an alternative to traditional lending institutions.
Investors looking for a better return have continued to stash their cash in Lending Club Notes and earn over 9.5% net annualized returns (from June 2007 to March 2010).
To celebrate this milestone, we did some research to show you how big $100mm is.
Leave us a comment! If you had $100mm, what would you do with it?
The Lending Club team